Fresh Fish - G20 | Statista Market Forecast

Fresh Fish - G20

G20

Highlights

Revenue in the Fresh Fish market amounts to US$224.80bn in 2024. The market is expected to grow annually by 5.27% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$57bn in 2024).
In relation to total population figures, per person revenues of US$45.20 are generated in 2024.
In the Fresh Fish market, volume is expected to amount to 12.35bn kg by 2029. The Fresh Fish market is expected to show a volume growth of 3.2% in 2025.0.
The average volume per person in the Fresh Fish market is expected to amount to 2.2kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Fresh Fish Market in the G20 region is experiencing minimal growth, influenced by factors such as consumer preferences and online shopping convenience. Despite this, the market continues to grow steadily due to the increasing demand for high-quality, fresh seafood products.

Customer preferences: In the Fresh Fish Market, there is a growing trend towards sustainability and ethical sourcing. Consumers are becoming more conscious of the environmental impact of their food choices and are seeking out seafood that is responsibly caught or farmed. This has led to an increase in demand for certifications such as MSC and ASC. Additionally, there is a growing interest in locally sourced seafood, as consumers prioritize supporting small businesses and reducing their carbon footprint.

Trends in the market: In the G20 countries, the Fresh Fish Market in the Fish & Seafood Market is experiencing a shift towards sustainable fishing practices, driven by consumer demand for ethically sourced seafood. In addition, there is a growing trend of using technology to improve the traceability and transparency of the supply chain, with the use of blockchain and IoT devices. This trend is expected to continue, as consumers become more conscious of the impact of their food choices and governments implement stricter regulations. Industry stakeholders will need to adapt to these changes and invest in sustainable practices to meet consumer demand and maintain a competitive edge in the market.

Local special circumstances: In the Fresh Fish Market of the Fish & Seafood Market within The Food market, unique local factors play a significant role in shaping market dynamics. For instance, in Japan, the market is heavily influenced by the cultural tradition of consuming fresh fish. This has led to the development of advanced technologies for sustainable fishing and distribution, resulting in a highly competitive market. In Norway, strict regulations on fishing quotas and sustainability have created a niche market for premium, sustainably sourced fish products, catering to the growing demand for eco-friendly options.

Underlying macroeconomic factors: The Fresh Fish Market of the Fish & Seafood Market within The Food market is impacted by various macroeconomic factors, including global economic trends, national economic health, fiscal policies, and financial indicators. For instance, countries with stable economic conditions and favorable fiscal policies tend to experience higher market growth as consumers have greater purchasing power and confidence. Additionally, as global demand for seafood continues to rise, countries with strong export capabilities and trade relationships are likely to see a boost in their Fresh Fish Market. However, fluctuations in currency exchange rates, trade tensions, and political instability can also significantly impact the performance of this market. Moreover, the increasing focus on sustainable fishing practices and the emergence of alternative protein sources are also shaping the future of the Fresh Fish Market within The Food market.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.